The ETH ETFs have gained significant attention and interest since receiving approval from the SEC, while Bitcoin ETFs are struggling to maintain their position. SpotOnChain, a popular on-chain analytics company, has revealed that Grayscale and BlackRock, the top Bitcoin ETFs, are experiencing frequent outflows. The analytics provider shared the latest statistics on both exchange-traded funds on its official account on X.
According to SpotOnChain, the net inflow for Bitcoin exchange-traded funds on May 29, 2024, was only $28 million. The platform also highlighted the overall positive net inflows of BTC ETFs, which have been showing an optimistic outlook for the past twelve days. However, SpotOnChain also noted that the volume of GBTC and BlackRock’s exchange-traded funds has been declining consistently in the past couple of days.
SpotOnChain specifically mentioned the status of the Grayscale Bitcoin ETF, stating that it has experienced significant outflows for the past two days. This has affected GBTC’s performance. The analytics platform provided statistics showing that BlackRock’s BTC ETF also experienced a decrease in inflows, with IBIT’s single-day inflow dropping to approximately $24.6 million.
In contrast, BlackRock’s ETF had a single-day inflow of nearly $102.5 million. The reports indicate that GBTC had outflows worth approximately $105 million on the 28th, while IBIT had $102.5 million worth of inflows.
Tags:
BTC, ETF, ETH